Northern Oil and Gas, Inc. (NYSE:NOG) Shares Acquired by Xponance Inc.

Xponance Inc. increased its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 23.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,969 shares of the company’s stock after buying an additional 1,511 shares during the period. Xponance Inc.’s holdings in Northern Oil and Gas were worth $296,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Cibc World Markets Corp purchased a new stake in shares of Northern Oil and Gas during the fourth quarter worth about $345,000. Ninepoint Partners LP purchased a new stake in Northern Oil and Gas during the 4th quarter worth approximately $7,432,000. Envestnet Portfolio Solutions Inc. increased its holdings in Northern Oil and Gas by 7.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 10,377 shares of the company’s stock worth $386,000 after purchasing an additional 764 shares during the last quarter. Midwest Professional Planners LTD. raised its position in shares of Northern Oil and Gas by 9.1% in the 4th quarter. Midwest Professional Planners LTD. now owns 34,159 shares of the company’s stock valued at $1,269,000 after purchasing an additional 2,853 shares in the last quarter. Finally, 12th Street Asset Management Company LLC boosted its stake in shares of Northern Oil and Gas by 1.7% during the 4th quarter. 12th Street Asset Management Company LLC now owns 432,191 shares of the company’s stock valued at $16,060,000 after buying an additional 7,253 shares during the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Insiders Place Their Bets

In related news, President Adam A. Dirlam sold 836 shares of Northern Oil and Gas stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $39.00, for a total transaction of $32,604.00. Following the sale, the president now directly owns 96,223 shares in the company, valued at $3,752,697. The trade was a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nicholas L. O’grady bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average price of $27.48 per share, with a total value of $27,480.00. Following the transaction, the chief executive officer now directly owns 226,189 shares in the company, valued at $6,215,673.72. This represents a 0.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.80% of the stock is currently owned by insiders.

Northern Oil and Gas Trading Down 0.4 %

Shares of NYSE NOG opened at $30.83 on Friday. Northern Oil and Gas, Inc. has a 12-month low of $26.60 and a 12-month high of $44.31. The company has a market cap of $3.06 billion, a price-to-earnings ratio of 6.00 and a beta of 1.84. The company has a current ratio of 0.92, a quick ratio of 1.23 and a debt-to-equity ratio of 1.02. The stock’s 50 day simple moving average is $33.48 and its 200 day simple moving average is $36.84.

Northern Oil and Gas (NYSE:NOG) last posted its earnings results on Wednesday, February 19th. The company reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.16). Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The firm had revenue of $545.47 million for the quarter, compared to analyst estimates of $552.34 million. Equities research analysts expect that Northern Oil and Gas, Inc. will post 5.18 EPS for the current year.

Northern Oil and Gas declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 11th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 3.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Northern Oil and Gas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, March 28th. This represents a $1.80 annualized dividend and a yield of 5.84%. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.42. Northern Oil and Gas’s payout ratio is presently 35.02%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NOG. Truist Financial increased their price objective on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Mizuho cut shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price target on the stock. in a research report on Monday, December 16th. Morgan Stanley lowered their price objective on Northern Oil and Gas from $43.00 to $38.00 and set an “equal weight” rating for the company in a report on Thursday. Piper Sandler cut their price objective on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada decreased their target price on Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $46.33.

Northern Oil and Gas Profile

Northern Oil and Gas, Inc, an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of crude oil and natural gas properties in the United States. It primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States.